Open market coverage “better value” than cat bond: CinFinDropping its catastrophe bond and increasing its reinsurance purchase represented “better overall value” to Cincinnati Financial Corporation (CinFin), The Insurer has been told.
CinFin non-renews cat bond and expands property cat treatyCincinnati Financial (CinFin) opted against renewing the most recent iteration of its Skyline Re catastrophe bond at the beginning of the year and instead bulked up limits on its property catastrophe reinsurance treaty by $90mn.
Cincinnati Q4 boosted by $45mn reserve releases and 23% E&S growthCincinnati Financial’s results have benefited from further reserve releases in the fourth quarter, while net premiums grew 11 percent with 23 percent growth in excess and surplus lines (E&S).
Cincinnati credit rating upgraded on reserve releasesAM Best has upgraded Cincinnati Financial’s credit ratings because of improved operating performance resulting from consistent underwriting income and favourable reserve development.
Cincinnati Financial beats as combined ratio improvesCincinnati Financial reported a 31 percent increase in third quarter operating profits to $179mn, or $1.08 a share, that was ahead of Wall Street consensus forecasts of $0.89 a share.
Cincinnati beats at Q2 as combined ratio falls to 96.5 percentCincinnati Financial reported a 5 percent increase in second quarter operating profit, beating Wall Street forecasts thanks to a 17 percent boost in new property and casualty business.
Cincinnati Financial takes 5 points off CR in Q1 earnings beatCincinnati Financial reported a solid first quarter earnings beat that included an almost 5 percentage points improvement in its combined ratio to 93.0 percent, despite higher weather-related cat losses.
Cincinnati Financial closes $134mn Lloyd’s acquisitionCincinnati Financial has closed its acquisition of Munich Re’s Lloyd’s platform, MSP Underwriting Ltd.
Cincinnati grows top and bottom line with Q4 earnings beatCincinnati Financial reported a 4 percent increase in fourth quarter operating income as it beat Wall Street forecasts.
Cincinnati pegs Q3 cat losses at $120mn; adds to messy quarterUS specialty insurer Cincinnati Financial has said it expects to be impacted by pre-tax catastrophe losses of approximately $120mn in the third quarter continuing the theme of pre-announcements from what is proving a messy quarter for loss events.